Global Veterinary Medicine Market expected to reach around US$ XX Bn by 2027, growing at a CAGR of 6.4% during the forecast period.
The MMR report includes various segments as well as an analysis of the trends and growth factors that are playing a substantial role in the market. These factors the market dynamics involve the drivers, restraints, opportunities, and challenges. Such as, The rise in the occurrence of contagious diseases among animals is driving the market for veterinary drugs. Animals also play a crucial role in research and development in studying drug therapy by performing preclinical trials in animals to develop advance drug and cost-effective veterinary drugs. Moreover, increasing awareness towards livestock and to cure zoonotic and chronic disease drives the market, rapid urbanization and an increase in per capita income drive the market growth.
However, the discovery of complex diseases and various infections in humans from animals through the consumption of animal products such as bird flu, bird flu, rabies, coronova virus, and others and not giving street animals appropriately treatment restraints the market growth.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
• Growing research and development investment to develop more effective drugs
• Rising meat consumption across the globe and animal-derived product like ghee, milk, butter give a better opportunity.
Global Veterinary Medicine Market: Market Segmentation:
The report covers the brief analytical segments of the veterinary medicine market thereby providing a wider view at the macro as well as micro levels. By route of administration, parenteral is dominating the veterinary medicine market and valued around US$ XX Bn in 2019. Parenteral administration is more preferred over other as it gives rapid onset of action, The better bioavailability, and reliable dosage and it gives fast therapeutic effect with rapid onset of action as it overcomes the first-pass metabolism whereas, several adverse reactions and painful delivery and discomfort are the drawbacks and hinder the growth.
Pharmacies & drug stores segment is projected to witness the fastest growth during the forecast period. Because of the requirement and urgency in clinical for targeted medicines and to protect from zoonotic diseases and livestock animals.
Global Veterinary medicine market: Regional analysis
North America’s Veterinary medicine market was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX%. The major factors which are driving the growth of the Veterinary medicine market in the regions as it provides good animal welfare policies and its spend huge expenditure on research in veterinary medicine market especially the U.S and Canada. Since, North America is the developed region it consists of advance veterinary hospital and the large healthcare players and hence, take part in growing the economics of the market.
Europe is considered the second most promising market after North America in the Advancement of new techniques and growing healthcare agencies the European market is undertaken by Germany and Frances and so, drives the European market.
In June 2018, Merck entered into a business with Vinovo B.V a division of Viscon Hatchery Automation. This has aided the company increase its portfolio of poultry vaccines.
The objective of the report is to present a comprehensive analysis of the Global Veterinary Medicine Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Veterinary Medicine Market dynamics, structure by analyzing the market segments and project the Global Veterinary Medicine Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Veterinary Medicine Market make the report investor’s guide.
Scope of the Global Veterinary Medicine Market:
Global Veterinary Medicine Market, By Product
• Medicated Feed Additives
Global Veterinary Medicine Market, By Route of Administration
Global Veterinary Medicine Market, By Application
• Companion Animals
• Livestock Animals
Global Veterinary Medicine Market, By End-User
• Veterinary Hospital
• Veterinary Clinics
• Pharmacies & Drug Stores
Global Veterinary Medicine Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Global Veterinary Medicine Market, key Players
• Agrovet Market Animal Health
• American Veterinary Clinic
• BASF India Ltd
• Biotex Plus Ltd
• Boehringer Ingelheim Gmbh
• Cadila Pharmaceuticals Ltd
• Cargill India Pvt. Ltd
• Chemo Argentina
• Koninklijke DSM N.V
• Merck & Co.
• Saudi Pharmaceutical Industries
• The British Veterinary Center
• Veterinarski Zavod Subotica
• Wageningen Bioveterinary Research
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